The quota will be reduced from 1.35 million tons to 600,000 tons. The export tax rate for export volumes within the quota will remain at 5%, but not less than 5 Euros per ton. If the volume is above the quota, the tax rate will be 5%, but not less than EUR 290 per ton.
Some market participants said the extension of Russia's scrap export quotas and the EU's revised waste shipping regulation (WSR) coincided with South Africa's six-month scrap export ban from 30 November 2022, possibly leading to a tighter global scrap supply. Worried about opening it.